What Is MAGS? Roundhill Magnificent Seven ETF

MAGS is the Roundhill Magnificent Seven ETF, an actively managed fund whose entire job is to hold the seven mega-cap technology leaders: Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, and Tesla. When it launched in April 2023 it was the first US-listed ETF built specifically to package this group into a single ticker, arriving just as the 'Magnificent Seven' label entered common use.

The fund charges a 0.29% expense ratio and rebalances toward roughly equal weight each quarter, so no single company is meant to dominate the portfolio. That structure makes MAGS a focused, one-decision way to own the cohort rather than a diversified market fund.

Approximate weights as of mid-2026; refresh quarterly from Roundhill Investments's fund page. Each ticker links to its individual stock guide in Walnut.

MAGS holds exactly seven stocks. At each quarterly rebalance every name is reset toward one-seventh of the fund, so Nvidia, Microsoft, Apple, Amazon, Meta, Alphabet, and Tesla each sit near 14% to 15%. Between resets the weights drift with the stocks, but the fund keeps pulling them back toward parity.

This is the defining feature of MAGS. There are no bonds, no cash sleeve, and no other equities diluting the exposure. Owning MAGS is owning these seven companies and nothing else, which is why its behavior tracks the fortunes of a single group of large technology and internet businesses.

VOO and other S&P 500 funds hold about 500 companies weighted by market value, and the Magnificent Seven are only a slice of that. If you want broad market exposure at a rock-bottom fee, a total-market or S&P 500 fund is the simpler core. MAGS is the opposite: maximum concentration in the seven names, at a higher 0.29% fee.

Compared with directly buying all seven stocks, MAGS saves you the work of running seven positions and rebalancing them yourself, in exchange for the fee and the loss of control over individual weights. The choice comes down to how concentrated you want to be and how much of the management you want to hand off.

Because MAGS holds only the Magnificent Seven, its performance mirrors that cohort closely. When these mega-caps lead the market, as they did through much of the recent artificial intelligence buildout, MAGS tends to outrun broad indexes. When the group stalls or a single large name stumbles, the fund has little else to cushion the move.

The outlook for MAGS is really the outlook for seven specific companies and the AI, cloud, advertising, and consumer trends that drive them. That makes it a higher-conviction, higher-variance position than a diversified fund, and its future returns will hinge on whether this concentrated group keeps leading.

MAGS suits an investor who specifically wants concentrated exposure to the mega-cap leaders and understands that seven stocks in one broad sector cluster carry more single-name and drawdown risk than a total-market fund. Many people hold it as a satellite or thematic sleeve alongside broader holdings rather than as a foundation.

Walnut is not an investment adviser and this is not a recommendation. Whether MAGS fits depends on your goals, time horizon, and tolerance for concentration. If you do hold it, sizing it as one part of a wider plan is a common way to manage the added risk.

MAGS trades like any stock during market hours on brokerages such as Robinhood, Fidelity, Schwab, and Public. Many of these support fractional shares, so you can put a fixed dollar amount to work rather than buying whole shares. Its size and liquidity mean tight spreads for most orders.

If you connect your brokerage account to Walnut, you can track MAGS next to your other positions and themed baskets in a single view, and see how a Magnificent Seven position fits alongside the rest of what you own.

ETFs are passive bundles; thematic baskets in Walnut let you concentrate within them. If you hold MAGS as a core position, these are the themes you might layer on as satellites.

The bottom line on MAGS: it is a clean, single-ticker way to own the seven mega-caps at roughly equal weight for a 0.29% fee, rebalanced quarterly. That concentration is the whole point and the whole risk. It reads as a satellite or thematic position rather than a diversified core holding.

Whether MAGS is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is MAGS a buy?

MAGS yields ~0.3% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see MAGS dividend: yield and schedule.